LAKESHORE, ON, Jan. 5, 2024
/CNW/ - Reko International Group Inc. (TSXV: REKO) announced today
the approval of a normal course issuer bid for 278,170 of its
outstanding common shares.
The notice provides that Reko may, during the 12-month period
commencing January 9, 2024 and ending
January 8, 2025, purchase on the TSX
Venture Exchange up to a total of 278,170 of its common shares,
being approximately 5% of the outstanding common shares.
Reko believes that its common shares have been trading in a
price range which does not reflect their value in relation to
Reko's business and its future business prospects. As a result,
depending upon future price movements and other factors, Reko
believes that its outstanding common shares represent an attractive
investment and a desirable use of a portion of its available
funds.
Matthew Larose of National Bank
Financial will be the Member acting on behalf of Reko. The price
that Reko will pay for any such shares will be the market price at
the time of acquisition. The actual number and timing of shares
purchased will be determined by Reko in accordance with
applicable regulatory requirements. All purchased shares will be
cancelled. There are 5,563,413 common shares outstanding as of
the date of this press release.
A shareholder may receive a copy of Form 5G, Notice of Intention
to Make a Normal Course Issuer Bid by contacting the Company via
e-mail at irelations@rekointl.com; or, by writing to the Company,
Attention: Investor Relations, 469 Silver Creek Industrial
Drive, Lakeshore, Ontario N8N
4W2.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
About Reko International Group
Inc.
Reko International Group Inc. (TSXV: REKO) is a diversified,
technology-driven manufacturing company located in Southwestern Ontario, just minutes from the
U.S. border. With expertise in robotic automation equipment and
precision machining services, Reko is a "go-to" supplier for
companies in the automotive, aerospace, rail, power generation and
capital equipment industries. Reko strives to be a pillar and
protector of sustainable North American manufacturing and
production. For more information, contact Kim
Marks, Chief Financial Officer at (519) 727-3287.
SOURCE Reko International Group Inc.